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2016-10-12 07:29:57

FTNT

Fortinet

$34.09

-0.9 (-2.57%)

07:29

10/12/16

10/12

07:29

10/12/16

07:29

Fortinet positive fundamentals remain unchanged, says UBS

UBS analyst Brent Thill noted Fortinet pre-announced negative earnings and attributed the miss to sales execution challenges in the U.S. Thill said his positive fundamental view on Fortinet's core technology remains unchanged and sees the company's problems as fixable. Thill maintained his Buy rating and lowered his price target to $40 from $42 on Fortinet shares.

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FTNTFortinet

$34.09

-0.9 (-2.57%)

10/12/16

GSCO

10/12/16DOWNGRADETarget $36GSCOBuy

Fortinet downgraded to Buy from Conviction Buy at Goldman

Goldman analyst Gabriela Borges removed Fortinet from the Conviction Buy List and lowered its price target to $36 from $43 following the negative Q3 preannouncement. The analyst maintains his Buy rating as he continues to believe Fortinet is wll positioned to gain share and outgrow peers,and sees the potential for a capital allocation, restructuring, or M&A event, and views valuation as compelling.

10/12/16

LEHM

10/12/16NO CHANGETarget $34LEHMOverweight

Fortinet price target lowered to $34 from $42 at Barclays

Barclays analyst Saket Kalia said Fortinet pre announced a negative Q3 due to macro weakness and sales execution in enterprise that drove a billings shortfall. The analyst said wants to hear more about competition on the earnings call and wonders how much came from subscription billings versus product. Kalia lowered Fortinet's price target to $32 from $42 and has an Overweight rating on shares.

10/12/16

OPCO

10/12/16NO CHANGETarget $40OPCOOutperform

Fortinet price target lowered to $40 from $45 at Oppenheimer

Oppenheimer analyst Shaul Eyal lowered his price target for Fortinet to $40 from $45 after the company pre-announced disappointing Q3 results impacted by macroeconomic issues in Latin America and the U.K., and execution challenges relating primarily to the ongoing sales force realignment in North America. However, the analyst believes Fortinet's challenges are reversible and reiterates an Outperform rating on the shares.

10/12/16

JPMS

10/12/16NO CHANGETarget $46JPMSOverweight

Fortinet price target lowered to $46 from $54 at JPMorgan

JPMorgan analyst Sterling Auty lowered his price target for Fortinet to $46 following the company's negative Q3 preannouncement but keeps an Overweight rating on the name. Issues in execution, primarily in North America, impacted sales, Auty tells investors in a research note. The analyst, however, says he is standing behind his "cash flow growth thesis."